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Update on 'Recycling' of Pension Commencement Lump Sums
by Ian Neale 08/02/2006
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Further to our alert on last Friday’s Government announcement about targeting 'recycling', HMRC has now issued an invitation to comment on both the draft guidance and the proposed Finance Bill clause. Responses should be sent via email to pensionsconsult@hmrc.gsi.gov.uk by 24 February.
"HMRC welcomes your comments", but if you have a personal view or example you'd rather submit anonymously, let us know and we'll consider incorporating it in an Aries response. We'll probably have to weed out some of the more appropriate adjectives, though. Staff at HMRC SPSS may already share the view that this is not the brightest idea to have emerged from the simplification project.
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